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When we move beyond the economic details, the Greek bailout boils down to a question of moral principle: should the responsible be obligated to sacrifice their success to save the irresponsible from the consequences of their actions? Should one person’s debts outweigh another person’s savings?
Through a series of interviews with prominent entrepreneurs and experts on Rand’s philosophy, Objectivism, the new documentary Ayn Rand and the Prophecy of Atlas Shrugged attempts to explain why the novel is so popular, and just how its predictions have come true.
Lamenting BP’s oil spill in the Gulf of Mexico, Mark Costigan of the University of Oregon’s Daily Herald calls for an end to all offshore drilling. Faced with the objection that this would mean importing more of our oil, Costigan bites the bullet and says we should stop foreign oil imports as well: If oil [...]
In spending its way to economic recovery, the government boldly casts principles aside Many Americans have experienced the adverse consequences of the recent economic downturn: retirement savings wiped out, jobs lost, or at least a general feeling of financial uncertainty. Our leaders in Washington have reacted by enacting a flurry of new government spending initiatives [...]
In the aftermath of the substantial Democratic victory in last November’s election, Republicans nationwide are reported to be doing a great deal of “soul searching.” Indeed they should. After all, times are not looking good for the Republican Party. Former President Bush left office with record-low support, and both houses of Congress, along with the [...]
Over at the Huffington Post, former Goldman Sachs partner Greg Zehner writes that Ayn Rand foresaw the economic crisis the United States now faces, as well as the disastrous consequences the various proposed bailouts will have. “Ayn Rand warned us this would happen. In the classic, Atlas Shrugged, she wrote about governmental powers manipulating markets [...]
In July, rioters laid siege to several Pakistani stock exchanges to protest declining prices in the stock market. At the Karachi Stock Exchange, a mob of small investors destroyed equipment and files, smashed windows, and burned tires in a rage over falling prices. In a similarly-themed if less violent protest, two little girls in [...]
The New York Times recently published an op-ed by Paul Krugman on McCain’s healthcare plan. Krugman, an economics professor at Princeton University, describes what he sees as the ‘voodoo’ economics of healthcare: “…the foolish claim, refuted by all available evidence, that the magic of the marketplace can produce cheap health care for everyone.” The alternative, [...]